Sri Lankan students demand government resign over economic crisis

University students in Sri Lanka's capital Colombo attend a protest calling for the resignation of President Gotabaya Rajapaksa over his alleged failure to address the economic crisis in the country. Protests have been rocking the country for more than two months as Sri Lanka faces its worst-ever economic crisis due to the lack of foreign reserves, resulting in severe shortages in food, fuel, medicine, and imported goods. EPA

University students in Sri Lanka's capital Colombo attend a protest calling for the resignation of President Gotabaya Rajapaksa over his alleged failure to address the economic crisis in the country. Protests have been rocking the country for more than two months as Sri Lanka faces its worst-ever economic crisis due to the lack of foreign reserves, resulting in severe shortages in food, fuel, medicine, and imported goods. EPA

University students in Sri Lanka's capital Colombo attend a protest calling for the resignation of President Gotabaya Rajapaksa over his alleged failure to address the economic crisis in the country. Protests have been rocking the country for more than two months as Sri Lanka faces its worst-ever economic crisis due to the lack of foreign reserves, resulting in severe shortages in food, fuel, medicine, and imported goods. EPA

University students in Sri Lanka's capital Colombo attend a protest calling for the resignation of President Gotabaya Rajapaksa over his alleged failure to address the economic crisis in the country. Protests have been rocking the country for more than two months as Sri Lanka faces its worst-ever economic crisis due to the lack of foreign reserves, resulting in severe shortages in food, fuel, medicine, and imported goods. EPA

University students in Sri Lanka's capital Colombo attend a protest calling for the resignation of President Gotabaya Rajapaksa over his alleged failure to address the economic crisis in the country. Protests have been rocking the country for more than two months as Sri Lanka faces its worst-ever economic crisis due to the lack of foreign reserves, resulting in severe shortages in food, fuel, medicine, and imported goods. EPA

University students in Sri Lanka's capital Colombo attend a protest calling for the resignation of President Gotabaya Rajapaksa over his alleged failure to address the economic crisis in the country. Protests have been rocking the country for more than two months as Sri Lanka faces its worst-ever economic crisis due to the lack of foreign reserves, resulting in severe shortages in food, fuel, medicine, and imported goods. EPA

University students in Sri Lanka's capital Colombo attend a protest calling for the resignation of President Gotabaya Rajapaksa over his alleged failure to address the economic crisis in the country. Protests have been rocking the country for more than two months as Sri Lanka faces its worst-ever economic crisis due to the lack of foreign reserves, resulting in severe shortages in food, fuel, medicine, and imported goods. EPA

Members of the Inter University Students' Federation demand for Sri Lanka's President Gotabaya Rajapaksa to resign, amid the country's economic crisis, in Colombo. Reuters

Thousands of students from state universities marched in Sri Lanka’s capital on Monday to demand the president and prime minister resign over an economic crisis that has caused severe shortages of essential supplies and disrupted people’s livelihoods and education.

The students say President Gotabaya Rajapaksa is responsible for the economic crisis, the worst since independence in 1948. They also claim that Prime Minister Ranil Wickremesinghe, who took over the position a little more than a month ago promising to end shortages, has not delivered on his pledges.

Sri Lanka is nearly bankrupt and has suspended repayment of $7 billion in foreign debt due this year. It must also pay back more than $5bn every year until 2026.

The country's foreign reserves are nearly gone and it is unable to import food, fuel, cooking gas and medicines. A lack of fuel to run power stations has resulted in long daily power cuts.

In recent months, people have been forced to stand in long lines to buy fuel and gas. This has meant the country has survived mostly on credit lines extended by neighbouring India to buy fuel and other essentials.

With that credit also running out, authorities have shut schools and instructed teachers to teach online. They have also asked non-essential government employees to work from home for one week to preserve limited stocks of fuel.

Officials from the International Monetary Fund are currently in Sri Lanka to discuss a bailout package.

Months-long protests have nearly dismantled the Rajapaksa political dynasty that has ruled Sri Lanka for most of the past two decades.

One of the Rajapaksa brothers, Mahinda, resigned as prime minister last month, and two other brothers and a nephew quit their Cabinet posts earlier.

President Rajapaksa has admitted he did not take steps to forestall the economic collapse early enough, but has refused to leave office. It is nearly impossible to oust a president under the constitution unless he resigns of his own accord.